All Forum Posts by: Richard C.

"I want access to cash if I need it without having to pay credit card rates."

 Not unless you can prove they killed them. Plants die sometimes. You might "know" they died because they were neglected, but proving it is another thing entirely.

I have heard of buyers doing it (seems like a really good way to get the seller's attention) but never of a seller demanding it.

Right. A lender may or may not choose to include a particular obligation in their DTI calculation. The borrower is still require to disclose all obligations.

And anyway, the OP isn't concerned about DTI so much. He wants to borrow money for a down payment without disclosing that the money was from a loan.

I hear that doctors don't like the guys on craigslist that offer plastic surgery in their basement.

A 23-year-old starting agent should be driving a Honda Accord.  Otherwise, people will be concerned they are paying for your flash, and concerned about your financial judgement.

 Exactly right, thank you.

 So she is telling you that probably no one will look closely enough to determine that you are lying on your application.

The problem there is that while all she wants to do is close a loan and make some money, there are compliance people above her at your bank that DO care.  And if you should get caught, it isn't her signature on that attestation, it's yours.

 Signing a mortgage application attesting that you have no debts that do not appear on your credit report is, in fact, fraud.

What exactly is the basis of your claim that it is not?

Before giving advice that could very well get someone into a whole lot of trouble, it behooves one to have some idea what one is talking about.

You realize that the loan application will ask whether you have any debts not indicated on your credit report, and require you to attest that the money in your accounts was not loan proceeds?

So by asking for loans that they won't see, you are asking for advice on how to commit mortgage fraud.  It is possible that that is why your posts are being removed.